Downtown Vancouver luxury condo tower project pivots to rental housing

Due to poor market conditions, another condominium tower project in downtown Vancouver has pivoted into secured purpose-built rental housing, with significantly added density and height.

Local developer PC Urban has submitted a new rezoning application to redevelop 1150 Barclay Street.

This is a mid-block site located near the southeast corner of the intersection of Bute and Barclay streets, currently occupied by a 1948-built, three-storey building with 19 cooperative apartment homes.

Over six years ago, PC Urban previously contemplated redeveloping the site into a 114-ft-tall tower with 11 storeys containing 23 strata luxury ownership condominium homes, with a total building floor area of 38,000 sq ft.

The newly revised 2024 concept has nearly doubled the new building’s height to 215 ft with 21 storeys, and it is now a 100% secured purpose-built rental housing project.

1150 barclay street vancouver 2024 rental housing pc urban

Site of 1150 Barclay Street, Vancouver. (Google Maps)

Existing condition:

Site of 1150 Barclay Street, Vancouver. (Google Maps)

Cancelled 2018 concept of an 11-storey condominium tower:

Cancelled 2018 condominium concept of 1150 Barclay Street, Vancouver. (Dialog/PC Urban)

2024 revised concept of a 21-storey rental housing tower:

2024 rental housing concept of 1150 Barclay Street, Vancouver. (Musson Cattell Mackey Partnership/PC Urban)

This maximizes the site’s potential building height under the previous protected mountain view cones of C1 emanating from the Laurel Street Land Bridge and 12.1.1 emanating from the middle of the Granville Street Bridge. However, Vancouver City Council repealed both view cones C1 and 12.1.1 in July 2024 as part of the municipal government’s strategy to catalyze additional homes and job space through added density and height; this rezoning application outlining the 21-storey rental housing tower concept was submitted months prior to the decision.

There would be 152 secured purpose-built rental homes, including 122 market rental units and 30 below-market rental units, including five deeply affordable units with rents 50% below Canada Mortgage and Housing Corporation averages — managed by the Seniors Services Society of BC.

“This marks a significant pivot from the original approved plan… with zero rental homes, directly addressing Vancouver’s acute housing crisis by substantially increasing the local rental housing supply by converting the project into full rental,” reads the application.

“By aligning with broader public policy objectives on housing affordability, availability and density, our proposal seeks to optimize the efficient use of urban land in an area appropriate for density and in need of rental housing.”

2024 rental housing concept of 1150 Barclay Street, Vancouver. (Musson Cattell Mackey Partnership/PC Urban)

Residents would have access to various shared amenity spaces, including indoor and outdoor facilities on the tower rooftop.

The proponents acknowledge that their revised project plan does not comply with City policies, including the prescriptions and stipulations of the West End Plan.

However, they assert that the project has merits based on the “suitability of the location, characterized by a mix of low, mid, and high-rise buildings, including many at 20 storeys or higher, and the pressing demand for secure housing.”

2024 rental housing concept of 1150 Barclay Street, Vancouver, with existing and future towers in the area also highlighted. (Musson Cattell Mackey Partnership/PC Urban)

2024 rental housing concept of 1150 Barclay Street, Vancouver. (Musson Cattell Mackey Partnership/PC Urban)

Additionally, the building will provide a 900 sq ft community space secured by a covenant, fronting Barclay Street at ground level. It could be used as a multifunctional space, drop-in child minding facility, recreational space for seniors, and/or event space for non-profit organizations.

Also fronting Barclay Street at ground level will be a bike facility featuring some ground-level bike storage space, e-scooters, bike repair facilities, and a bicycle elevator to the secured bike parking spaces situated on an underground level.

Three underground levels contain 45 vehicle parking stalls. Nearly 300 secured bike parking spaces will be provided within in-unit and underground areas.

The total building floor area would reach 109,000 sq ft, establishing a floor area ratio density of a floor area that is 9.2 times larger than the size of the 11,900 sq ft lot. Musson Cattell Mackey Partnership is the project’s design firm.